- We do not ‘give’ families homes in exchange for sweat equity.
- Habitat homeowners DO work on the houses they eventually purchase but that labor does not replace the mortgage or the responsibility to pay for it.
- We don’t give houses away.
- Our families pay a mortgage for their homes. To qualify, they must have stable income and go through a detailed financial screening process similar to that of traditional mortgages.
- We do not provide crisis or other short-term housing.
- Because of our program requirements, we cannot help families in emergency situations.
what do you need
Potential homebuyers must have a need for stable, affordable housing. You might be living in transitional housing or struggling with overcrowded or poorly built, unhealthy, damaged or inadequate housing. You might be paying more than 30% of monthly income for housing, or you might be unable to obtain a traditional mortgage or save for a traditional down payment.
ability to pay
Families must be able to afford monthly mortgage payments*, which include principle, taxes and insurance. Typical monthly payments range from $650 to $825 per month for 30 years.
We look at applicants’ credit history for evidence of a good payment history and responsibility, but we do not require a minimum credit score. Potential homeowners must have a consistent income and/or employment history. Habitat MontDelco lends to families that make between 30 and 60 percent of median income for the county for rehabbed homes. For new construction homes, Habitat MontDelco lends to families that make between 30 and 80 percent of the median income for the county. We look at gross income (income before taxes) and include all stable sources of income, such as disability, social security, food stamps, alimony and child support. Compare your income against the chart below to see if your income falls within the minimum and maximum amount.
willingness to partner
Potential homeowners must first attend an information session. Once selected, potential Habitat homeowners must partner with us throughout the process. This partnership includes performing 200 hours of “sweat equity” – construction work on homes and financial literacy classes and working in one of our ReStores or in the office. Sweat equity hours must be completed before purchasing a home.
All homebuyers are required to attend our Almost Home program of 40 classroom hours and one-on-one time with a financial coach. This program teaches crucial financial literacy skills to ensure that families can afford their mortgages and weather future financial challenges.
our other programs
Working holistically with communities to stabilize neighborhoods and improve residents’ safety and quality of life.
Helping families set goals, learn skills, and change financial behaviors to become financially stable.